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CSPAN
Dec 29, 2012 7:00pm EST
with washington post reporter laurie montgomery this morning for the update on the fiscal cliff negotiations. >> tell us, what kind of a deal the president offered and what is new in the negotiations among the senators and between the senators and the white house? >> there does not appear to be anything new. the policy they are talking about are the same public -- policies that have been on the table for weeks. what is new is they seem to have finally agreed they will move forward with something. there is no guarantee that the republican leader and democratic leader will be able to put together an agreement. but they are now saying they will try to do it. they are working together and amy towards a vote sunday are monday. >> what is the scuttlebutt among the rank-and-file senators about whether or not they're going to be able to pull this off before the end of the weekend? >> it happened so late, and it was really difficult -- i do not believe anyone has been briefed. there is an absolute lack of information among the people who are actually going to have to vote on this. house members are not in washington right now. there wil
CSPAN
Dec 29, 2012 3:32pm EST
. what happens if we go over the fiscal cliffs or even we get the type of deal that the president is looking for? what we are talking about is the top individual income-tax rate rising from 35% to 39.6%. that was the same texture that we had before 2001. -- that is the same tax rate that we had before 2001. we do not need to be up at the 75% level. i would not advocate that we go to the 75% level. that is not really where we are. that is not where we need to be. host: we hae a tweet. guest: the payroll tax is basically a fixed percent, at 2% of income. it is capped, so social security tax only accounts for the first 100 dozen dollars of earnings. the benefits are larger or more an important probably for low and middle income working families than they are for higher income families. that is certainly true. you have to remember that the payroll tax was a temporary provision. it actually was enacted at the end of 2010 to replace another provision which was even more targeted toward low enand middle income working families. i don't think anybody would dispute that it needs to expire, th
Search Results 0 to 1 of about 2